Sunday, August 19, 2012

Istanbul Real Estate Statistics


Turkey is attracting strong investor interest and with increased availability of market data and greater clarity in transaction processes the country once again tops the global rank.

Confidence in the Istanbul property market is increasing and a 6% growth in the Turkish economy is expected to boost interest, it is claimed.

Turkey’s impressive GDP increase per year has been more than 5% over the recent years and exceeded the forecasts.

Figures also shows that the population of Istanbul is increasing faster than many countries and this is one of the key drivers behind the booming property market due to demand for quality accommodation from the vast numbers of migrants to Turkey’s second city.




A fundamentally stable banking system, low levels of private sector leverage and attractive demographic conditions ensures a robust economic advance in Turkey. It outperforms other economies in central and Eastern Europe significantly and is well positioned to grow further.

Istanbul property market goes from strength to strength. Demand for quality investment properties remains very high with our early entry investors already seeing more than 30% capital growth which is certainly unprecedented in today’s marketplace.

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But interest is increasing on other parts of the country especially among those seeking holiday homes and rental opportunities. Environmentally friendly projects are offering another possibility.


The 2012 release of the GYODER index shows house prices in the country grew 12.57% on the year in June, following a 12.16% year on year growth in May and 11.93% in April. 




This shows an acceleration of growth, which is a pronounced change in trend from the previous six months when year on year growth averaged about 10%.

Although a slow down on economic growth is expected, the economy is still growing and so is tourism and the population, all of which continues to support growing demand for property to rent and buy, hence the escalating growth in property prices.

In the last UN Wortd Tourism Organisation charts, Turkey was the only country to improve its position, climbing to 6th on the chart with 29.7 million visitors in 2011. Tourism continues to grow, according to the tourism ministry visitor numbers were up 2.7% year on year in June.





Despite the continued steady price growth, Turkish property is still among the cheapest in Europe and the world, which makes it very attractive for investors. 

This combination of economic growth supporting the residential rental market and tourism growth supporting the holiday rental market, means that there is something for everyone in the Turkish property market. 



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Saturday, July 28, 2012

Turkish Real Estate Market outlook

Summer 2012 has been a very progressive period for Turkish real estate market. Government approved changes on reciprocity law and as a consequence individual foreigners will be able to buy property in Turkey just like Turkish citizens.

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Turkey has been champion of annual growth over recent years contrary to declining EU economies.


The number of foreign direct investment projects drawn to Istanbul surged 70% in 2011. Strong recent and potential growth, accessibility and emergence as an important air travel hub have sweetened its appeal for foreign investors. 




In 2012, many multinational groups announced plans for regional management centers located in Istanbul to leverage the easy connectivity to target markets, including the Middle East and African nations. 

International companies have established regional headquarters in Istanbul to run their operations in Eastern Europe, Central Asia, the Middle East and Africa. 



Real estate fundamentals in the country are sound, as the country has historically benefited from a high-performing economy, high employment, industrialisation, rapid population growth, urbanisation, an increasingly active real estate investment trust (REIT) market, increasing foreign direct investment and considerable social housing investment by the government's Housing Development Administration (HDA), Business Monitor International reports.

According to 2012 Global Real Estate Transparency Index, Turkey shows the world’s greatest improvement in real estate transparency. 


After a strong rise in the rankings in the 2010 Index, Turkey has maintained its progress over the past two years. The increased availability of market data and clarity in transaction processes has seen the country top the global rank of transparency improvers. 


There are now 24 listed real estate companies in Turkey, a significant increase from 2010, as well as active institutional players in the market, which has had a notably positive effect on the office sector.






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Who are the rapid-growth markets of last 10 years?

25 top rapid growth markets are defined on the basis of three key criteria:


• Proven strong growth and future potential

• Size of the economy and population
• Strategic importance for business

The chart below shows the GDP growth of top 25 rapid-growth markets over the last 10 years, comparing these with the leading advanced economies in yellow. 


Taken together, the rapid-growth markets have grown on average by 5.8% a year over the last decade, more than three times as fast as the advanced economies.

Bosphorus 1st Bridge Istanbul


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